sl_246.4 valueofimmovables

IMMOVABLE PROPERTY (ACQUISITION BY NON- RESIDENTS) (VALUE OF IMMOVABLES) ORDER (valueofimmovables)

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Laws of Malta — Subsidiary Legislation 246.4 — IMMOVABLE PROPERTY (ACQUISITION BY NON- RESIDENTS) (VALUE OF IMMOVABLES) ORDER

IMMOVABLE PROPERTY (ACQUISITION BY

NON-RESIDENTS) (VALUE OF IMMOVABLES)

SUBSIDIARY LEGISLATION 246.04

IMMOVABLE PROPERTY (ACQUISITION BY NON-

RESIDENTS) (VALUE OF IMMOVABLES) ORDER

1st January, 1999

LEGAL NOTICE 98 of 1999, as amended by Legal Notice 411 of 2007.

Laws of Malta — Subsidiary Legislation 246.4 — IMMOVABLE PROPERTY (ACQUISITION BY NON- RESIDENTS) (VALUE OF IMMOVABLES) ORDER

The title of this Order is Immovable Property (Acquisition

by Non-Residents) (Value of Immovables) Order.

Laws of Malta — Subsidiary Legislation 246.4 — IMMOVABLE PROPERTY (ACQUISITION BY NON- RESIDENTS) (VALUE OF IMMOVABLES) ORDER

For the purpose of paragraph (b) of the proviso to article

5(1) of the Immovable Property (Acquisition by Non-Residents)

Act, the value of immovable property referred to in the said

paragraph and in relation to which the Minister shall not withhold

his permission is being established at €70,000 in the case of an

apartment and €117,000 in the case of any other property.

For the purposes of this Order "apartment" means a

one-storey residence, howsoever called, in a vertical block of at

least two residential units overlying each other and built on a

common site.